A third of marketers will invest more in lower-cost activities such as SEO and content if there is a global recession following the fallout from the coronavirus, a new study by Conductor has found.
With budgets and objectives in flux due to the outbreak, marketers at companies in industries including retail, healthcare, media and B2B were asked how they expected their budgets and channels to be impacted moving forward.
The good news is that more than two-thirds expect budgets either to “stay the same” or “decrease slightly”, and many will focus on organic, cost-effective methods to deliver marketing success during a tough period for the wider economy.
There was even a small percentage (2%) of marketers expecting budgets to “increase greatly” as the situation with COVID-19 continues to develop.
Organic search was the top-performing online channel for 66% of respondents last year, ahead of paid search, email and content marketing, and this is an area that would be a core focus for marketers if there was a major economic downturn in the future.
Almost two-thirds said that they expected the importance of SEO to increase either “slightly” or “steeply”, while just 5% said that they expected its importance to decrease.
Overall, marketers believe that a recession would lead to a greater investment in SEO and less stringent expectations for delivering return on investment (ROI).
While the vast majority will be keeping marketing campaigns up and running amid economic challenges, 86% admit that it would be more challenging to follow through on marketing goals due to budget constraints and other issues.
These goals are likely to change as companies adapt to shifting customer behaviours and habits and the need to optimise product and service offerings.
However, 32% said that their goals would be roughly the same as they try to mitigate the impact of the coronavirus.